News · Crypto · Cointelegraph · Mon, Oct 19, 2026 2:00 AM
Qubic freezes chain after attacker drains 1.4K wallets with weak seeds
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Qubic says 87.1% of the stolen funds remain onchain and the rest were frozen at crypto exchange MEXC, as network validators prepare to vote on a recovery
Qubic’s network was suspended following a large-scale theft that drained 1,400 wallets using weak seed phrases.
Of the stolen assets, 87.1% remain on the blockchain, while the remaining portion has been frozen by the crypto exchange MEXC.
Validators are preparing to vote on a recovery plan to address the incident and restore network functionality.
Recovery Plan Vote Approaches
Based on reporting from Cointelegraph. Read the original.
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OpenBook analysis
Market impact
The event underscores the risks associated with weak wallet security and may prompt crypto users to review their seed phrases. Traders may watch Qubic’s upcoming recovery vote and the subsequent movement of the onchain funds, as these developments could impact the network’s stability and user confidence.
General market context for education only, not investment advice.
This briefing was summarized with automated tools from public reporting by Cointelegraph and is general market information, not investment advice. Editorial policy & corrections